Beltex (MSP)rotect ‘Flipped the Script’ on Cyber Insurance for MSPs

Beltex Insurance’s (MSP)rotect solution is aimed at solving the cyber insurance problem for small MSPs with under $5 million in revenue.

MSPs typically have technology errors and omissions, or TE&O, coverage, explained Dustin Bolander, founder, Beltex Insurance. The issue is that most TE&O coverage is very general and doesn’t include specific things MSPs need, he said.

“MSPs often complain that the policies are too general – most of the TE&O are generalist policies for a SaaS provider, a website builder, that sort of thing,” Bolander said. “Besides TechRug, no one else had an MSP-specific policy,” he said.

When TechRug – which offers policies through Lloyd’s of London – started increasing their prices, Bolander said smaller MSPs started asking for other options.

“We started hearing from these smaller MSPs that their pricing was increasing and that the carriers were asking questions they couldn’t accurately answer,” he said. “They were saying, ’This carrier is asking whether we’re a web developer or a consultant and it doesn’t seem like there’s anything for actual MSPs specifically,’” Bolander said.

 The other issue MSPs faced was with accessing insurance via portals to add client info and receive information, but all that does is create more work for MSPs, Bolander said.

“There’s not a lot of value there for the MSPs. Most of them don’t want to be dealing with this through a portal—they just want to introduce their clients and get them insurance. So, we wanted to see how easy we could make this without making MSPs jump through a bunch of hoops. That doesn’t help anybody except the agent!” he said.

Beltex’s solution strikes a balance and addresses the largest pain points MSPs face, Bolander said. The policy is specifically aimed at MSPs only and it’s easy to get a quote with just a few questions.

“There are 10 questions MSPs have to answer ‘yes’ to, and then they can get the policy,” Bolander said. “We did it that way to make it easier based on revenue, especially for the smaller MSPs. So, whenever we talk to MSPs, we ask what their annual revenue is; if they tell me $3 million, we say, ‘Okay, the policy is going to be $3,050 per year. Or if you want to add financial cover, additional financial coverage, then it would be $3,500 a year. Would you like me to send you the application? So now it's not fill this out, log in, put all this info into the portal. We can literally give them a quote in two minutes on the phone,” he said.

MSPs do have to meet other criteria to secure a policy, Bolander explained. They must have a contract in place with each of their customers that limits liability for 12 months or less. If they don’t have that, they’re referred to appropriate channel-friendly legal help, he said. Then, they also need to have 24/7/365 MDR coverage. They also must have certain financial controls in place to avoid identity fraud.

And though the solution is aimed at smaller MSPs, it’s far from a ‘cut-rate policy.’ The coverage is through Lloyd's of London, which has an A+ financial rating, and also offers more comprehensive coverage than similar policies, Boland said.

“My favorite example is what’s called dependent business interruption, which means if you have a third party service that you use, such as a cloud service, that is covered up to the full limit of the policy. So, if something that’s cloud-hosted went down or if, God forbid, we had another Kaseya style breach—that’s  where that dependent business interruption comes into play. We're able to do that full coverage, whereas a lot of other policies will limit it to maybe $100,000 or $250,000, ours goes to the full $1million or $2 million coverage on that,” he said.

Since launching on June 1, 2025, Bolander said the (MSP)rotect solution has seen 80% of MSPs that got a quote sign up.

Joe Goldstein, OCS IT, said the Beltex solution has 'flipped the script' on cyber insurance for MSPs.

"Every other cyber insurance company I have worked with in the past makes things harder on MSPs, not easier," Goldstein said. "They ask for mountains of information, yet they don’t understand the world we work in. Beltex flipped the script on this. The application was straightforward, the process was smooth from beginning to end, and I walked away with stronger coverage at a better price. It’s rare to find an insurance partner that makes life easier instead of more complicated. Beltex did that."

"It's said that there are so many companies getting into this that don't understand the channel. You've got to solve the pain points for MSPs so they can move on to the next thing," Bolander said. "There are very few things in this business that are truly transformational, so we wanted to just make [cyber insurance] easy. Make it not another job they have to do or another tool they have to master," he said.